Dixon Technologies (India) Ltd. Enters into a Joint Venture with HKC Corporation Limited for Manufacturing and Distribution of Liquid Crystal Modules
Dixon Technologies (India) Ltd. has entered into a Term Sheet with HKC Corporation Limited to form a joint venture for manufacturing of Liquid Crystal Modules, thin film transistor liquid crystal display modules, assembly of end products such as smartphones, TVs, monitors and auto displays and selling HKC branded end products in India. The Company has executed a share subscription and shareholders’ agreement with HKC Overseas Limited and Dixon Display Technologies Private Limited, a wholly owned subsidiary of the Company. Upon completion of the transaction, Dixon Display Technologies Private Limited will cease to be wholly owned subsidiary of the Company, and the Company will hold shares representing 74% of the share capital of Dixon Display Technologies Private Limited and HKC will hold shares representing 26% of the share capital of Dixon Display Technologies Private Limited, respectively.
Key Highlights
- Dixon Technologies (India) Ltd. and HKC Corporation Limited have entered into a Term Sheet to form a joint venture for manufacturing and distribution of Liquid Crystal Modules and thin film transistor liquid crystal display modules.
- The joint venture will also involve assembly of end products such as smartphones, TVs, monitors and auto displays and selling HKC branded end products in India.
- The Company has executed a share subscription and shareholders’ agreement with HKC Overseas Limited and Dixon Display Technologies Private Limited.
- Upon completion of the transaction, Dixon Display Technologies Private Limited will cease to be wholly owned subsidiary of the Company.
- The Company will hold shares representing 74% of the share capital of Dixon Display Technologies Private Limited and HKC will hold shares representing 26% of the share capital of Dixon Display Technologies Private Limited, respectively.